Investment options eligible for deduction under section 80C of Income Tax Act, explained
Updated : January 14, 2019 06:03 PM IST
All investments and expenses put together, one can avail deduction up to Rs 1.5 lakh per financial year. Each one of these come with some condition. It is better to know the same before committing your hard-earned money.
ULIPs come with a five-year lock in period and one can avail of tax benefit if the sum assured is at least 10 times the annual premium paid.
Sukanya Samriddhi Yojana (SSY) is a scheme meant for a girl child and allows partial withdrawal of funds when the girl child attains the age of 18 years. Remaining money can be withdrawn when the girl child is 21 years of age.